Bitfinex is back with a bang in the game after the DDoS attack

Bitfinex, one of the top global exchanging platforms for cryptocurrencies, is back to its form after going through a DDoS (Denial of Service) attack earlier yesterday.

Kasper Rasmussen, the Head of Marketing at Bitfinex, gave an official e-mail statement that:

“The Bitfinex exchange was the target of a Distributed Denial of Service (DDoS) attack this morning”

Bitfinex has also tweeted in its official page that:

“Bitfinex is currently under extreme load. We are investigating the issue and will keep you all up to date as we learn more.”

The value of Bitcoin [BTC] dropped down by 2%, that is, to the lowest rate of $7360 as the peers weren’t able to make any exchanges for an hour until the Bitfinex team came up with a fix at 3 PM UTC. After the fix, the value seemed to spike up to 1% and a growth could be observed then.

Trading View: Bitcoin [BTC] variation before and after the attack

Through a Denial of Service attack, a hacker or an intruder disrupts the connection between the yet-to-be-attacked host and the server so that the users are forbidden from any service provided by the host.

Bitfinex has suffered a Distributed DOS in 2015 that led to a monstrous loss for its users as $40,000 worth Bitcoin tokens were stolen, which was followed by another DDoS attack that led to a theft of another 73 million worth Bitcoin from the customers’ private wallet. From then on, it’s been termed as a ‘Controversial’ platform.

The attack lasted only for a few hours and fortunately no cryptocurrencies were stolen from the wallets that made the peers sigh in relief. The drop in the value is believed to be coped up as Bitcoin [BTC] is rebounding.

Bitfinex is founded in 2015 by iFinex Inc in Hongkong by Giancarlo Devasini and Raphael Nicolle.

Symetria, a new wallet and exchange platform for cryptocurrencies has tweeted that:

“Security is paramount to any crytocurrency exchange. Very glad that users were unaffected and everything is back under control”

Despite all these issues, Lympo [LYM] had a huge growth after it was listed in Bitfinex a few days back.

According to CoinMarketCap, Bitcoin [BTC] at press time was trading at $7641 with a market cap of $130 billion and has seen a rise of more than 2% in the past 24 hours.